Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 33.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,445 shares of the company’s stock after purchasing an additional 6,832 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in IDEXX Laboratories were worth $17,534,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Opal Wealth Advisors LLC acquired a new position in IDEXX Laboratories in the second quarter valued at $29,000. WealthCollab LLC acquired a new stake in shares of IDEXX Laboratories during the second quarter worth about $30,000. Armstrong Advisory Group Inc. lifted its holdings in shares of IDEXX Laboratories by 55.9% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 53 shares of the company’s stock valued at $34,000 after purchasing an additional 19 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of IDEXX Laboratories in the 3rd quarter valued at about $35,000. Finally, Ameritas Advisory Services LLC purchased a new position in IDEXX Laboratories during the 2nd quarter worth approximately $36,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $713.35 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 0.24. The company has a market cap of $56.96 billion, a P/E ratio of 56.57, a PEG ratio of 3.81 and a beta of 1.67. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $769.98. The company has a 50-day moving average price of $706.93 and a 200 day moving average price of $643.84.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Monday, November 3rd. The company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.08. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.07 billion. IDEXX Laboratories had a return on equity of 67.78% and a net margin of 24.65%.The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.80 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. Research analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IDXX has been the subject of a number of research reports. Wall Street Zen upgraded IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 3rd. Morgan Stanley lifted their target price on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. BTIG Research upped their price target on shares of IDEXX Laboratories from $785.00 to $830.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Leerink Partners set a $785.00 price objective on shares of IDEXX Laboratories in a research report on Monday, November 3rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $830.00 target price on shares of IDEXX Laboratories in a report on Tuesday, November 4th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $763.50.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 9,425 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $703.34, for a total value of $6,628,979.50. Following the completion of the sale, the executive vice president owned 21,149 shares of the company’s stock, valued at approximately $14,874,937.66. This trade represents a 30.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.98% of the company’s stock.

IDEXX Laboratories Profile

IDEXX Laboratories, Inc (NASDAQ: IDXX) is a global developer, manufacturer and provider of diagnostic products and services primarily for the animal health, water testing and food safety markets. Headquartered in Westbrook, Maine, the company supplies in-clinic diagnostic instruments, consumables, reference laboratory testing and practice-management tools that support veterinarians, livestock and dairy producers, and utilities and food producers worldwide.

IDEXX’s product portfolio includes point-of-care tests and immunoassays designed for rapid diagnosis in veterinary clinics, in-clinic chemistry and hematology analyzers, automated urinalysis systems, and digital diagnostic solutions.